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Jan 15, 2013
01/13
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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Jan 19, 2013
01/13
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ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world have this particular institution. the congress appropriates $100, tells the government to spend $100 on whatever, and then it raises $80 in revenue through its tax code. the arithmetic here says, you have to borrow $20. no, congress has to give a third 100-80 = says the 180at 20. logically, there is got to be something to make up the difference. the way to address it is by having a sensible plan for spending, insensible span foplar revenue. as i was saying before, this is like a family saying, we're spending too much. let's stop paying our credit
ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world...
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Jan 17, 2013
01/13
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as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. the sequester
as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game...
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Jan 14, 2013
01/13
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ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. and the fact of the matter is, is that we have never seen the debt ceiling used in this fashion, where the notion was, you know what, we might default unless we get 100 percent of what we want. that hasn't happened. now, as i indicated before, i'm happy to have a conversation about how we reduce our deficits further in a sensible way. although one thing i want to point out is that the american people are also concerned about how we grow our economy, how we put people back to
ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress...
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Jan 19, 2013
01/13
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ceiling? >> i hope it does not come to that but if it has to, it must. you know we can't let extremists put us in default and play chicken with a full faith and credit with the united states of america. that's what they are. when people say let's go into default. when i hear people who are elected to congress say let's go into default. i say this person is from some other planet. this person is not from this planet. the notion that we would do that boggles the mind and the good common sense of the vast majority of americans. >> what is your perspective on america's melting pot being better reflected in small towns? what would urban leaders learn from small town mayors? >> i mean -- i think we're enriched. i know i am. my kids have grown up. i tell people my kids have been in the homes of iranians, koreans, mexicans, italians, and greeks, muslims, we're enriched when we can experience other cultures and people and other perspectives. i think you're seeing the fastest growing places of immigrati
ceiling? >> i hope it does not come to that but if it has to, it must. you know we can't let extremists put us in default and play chicken with a full faith and credit with the united states of america. that's what they are. when people say let's go into default. when i hear people who are elected to congress say let's go into default. i say this person is from some other planet. this person is not from this planet. the notion that we would do that boggles the mind and the good common...
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Jan 18, 2013
01/13
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as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. the sequester
as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game...
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Jan 19, 2013
01/13
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they should do the debt ceiling for a whole year. host: so ella, hole on we have a statement from the press secretary saying we are encouraged there are signs the republicans may back off on the insistens of holding our economy hostage to drathsically cut programs and democrats and republicans must pass a clean bill. caller: i heard this. and i heard jay cornyn say that. i know what he said. but they also said that they want a clean debt ceiling. not every three months you're going to have the same thing over again. they want it for a whole year. not this three-month extension. host: jeff this morning off twitter said this is a reasonable offer if the democrats do not accept it he adds nice play, g.o.p. host: republican line? caller: yes, there are two features on this proposed legislative action. they have different levels of support for me. i do support the concept of withholding pay for not having a budget. i mean, not only should the federal government have a law regarding that but i think each individual state should enact a leg
they should do the debt ceiling for a whole year. host: so ella, hole on we have a statement from the press secretary saying we are encouraged there are signs the republicans may back off on the insistens of holding our economy hostage to drathsically cut programs and democrats and republicans must pass a clean bill. caller: i heard this. and i heard jay cornyn say that. i know what he said. but they also said that they want a clean debt ceiling. not every three months you're going to have the...
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Jan 16, 2013
01/13
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the debt ceiling issue should become a partisan issue. i appeal to the republicans to realize they should not place us in that kind of jeopardy. there will be hearing. we will work on witnesses today. i hope we will be resolving who the witnesses will be. i think there'll be concentration as to who they pick and our choice, one witness out of four. host: might it be secretary geithner? guest: no. host: tony. hi, tony. caller: good morning. guest: where is olive branch? i have been across the bridge there. caller: the talk about congress and everybody is looking at discretionary spending. we're finding the black rhino but we cannot take care of grandma. otherbuilding mosques foreign countries. people have to worry about being on the street and being homeless. we send money to countries to improve their water systems. thinking about the pipes in china. money out of this country. he talked about people spending money and avoiding taxes. host: we will get a response. guest: i do not know the last figure. we do have foreign assistance. it is a
the debt ceiling issue should become a partisan issue. i appeal to the republicans to realize they should not place us in that kind of jeopardy. there will be hearing. we will work on witnesses today. i hope we will be resolving who the witnesses will be. i think there'll be concentration as to who they pick and our choice, one witness out of four. host: might it be secretary geithner? guest: no. host: tony. hi, tony. caller: good morning. guest: where is olive branch? i have been across the...
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Jan 17, 2013
01/13
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>> look, there is a long tradition here of congress acting to raise the debt ceiling. this is a power that they've brought -- that they've given themselves to do. and the point is -- without drama and delay. a monthly extension is drama, okay? congress should simply do its job. it should not -- we're not going to negotiate over extending the debt ceiling. >> but is the president saying he's willing to revisit this within a year? would he like five years? i mean, what is he saying? >> i think the president made clear the other day that he would happily take on the responsibility himself if congress can't handle it. so the fact is, congress should simply extend the debt ceiling, and do so in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to engage in another process that results in a self-inflicted wound to the economy. so it's sort of a moot point because it should just be extended in a way that does not raise concern about whether or not the united states of america pays its bills. >> okay
>> look, there is a long tradition here of congress acting to raise the debt ceiling. this is a power that they've brought -- that they've given themselves to do. and the point is -- without drama and delay. a monthly extension is drama, okay? congress should simply do its job. it should not -- we're not going to negotiate over extending the debt ceiling. >> but is the president saying he's willing to revisit this within a year? would he like five years? i mean, what is he saying?...